Thu May 05 2016
Live Index (1448 articles)

Live Index – Thu, 05 May 2016 Premarket

PREMARKET WORLD NEWS

Jun E-mini S&Ps (ESM16 +0.28%) are up +0.28% and European stocks are up +0.28% as a +2.83% jump in crude oil (CLM16 +2.74%) lifts energy producing stocks. Weakness in miners and raw-material producers kept equity gains in check as the price of copper (HGN16 -1.35%) slips -1.39% to a 2-week low. volume and market activity in Europe is light with Denmark, Finland, Sweden and Switzerland all closed for holidays. Gains in European stocks were limited as Turkey’s ISE National 100 Stock Index slumped -1.46% to an 8-week low on expectations for Turkish Prime Minister Davutoglu to step down amid a power struggle with President Erdogan, which cloud’s Turkey’s economic prospects and threatens its membership talks with the EU. Asian stocks settled mixed: Japan and South Korea closed for holiday, Hong Kong -0.37%, China +0.22%, Taiwan -0.21%, Australia +0.15%, Singapore -0.19%, India +0.64%.

The dollar index (DXY00 +0.53%) is up +0.49%. EUR/USD (^EURUSD) is down -0.54%% after the ECB said in its monthly bulletin that it “will do everything within its mandate” to ensure that the low inflation environment does not become entrenched. USD/JPY (^USDJPY) is up +0.21%.

Jun T-note prices (ZNM16 -0.05%) are down -2 ticks.

In its monthly economic bulletin, the ECB said it is “crucial to ensure that the very low inflation environment does not become entrenched in second-round effects on wage and price setting.” The ECB “will continue to monitor closely the evolution of the outlook for price stability and, if warranted to achieve its objective, will act by using all the instruments available within its mandate.”

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Apr Challenger job cuts (Mar +31.7% y/y), (2) weekly initial unemployment claims (expected +3,000 to 260,000, previous +9,000 to 257,000) and continuing claims (expected -2,000 to 2.128 million, previous -5,000 to 2.130 million), (3) St. Louis Fed President James Bullard speaks at the Santa Barbara County Economic Summit, and (4) Atlanta Fed President Dennis Lockhart, Dallas Fed President Robert Kaplan, San Francisco Fed President John Williams, and St. Louis Fed President James Bullard take part in a panel discussion on “International Monetary Policy and Reform Practice” at a conference at Stanford University.

There are 30 of the S&P 500 companies that report earnings today with notable reports including: Merck (0.86), Occidental Petroleum (-0.41), Chesapeake Energy (-0.11), Kellogg (0.94), Motorola Solutions (0.41), Fluor (0.85), Wynn Resorts (0.77), News Corp (0.04).

U.S. IPO’s scheduled to price today: Cancer Prevention Pharmaceuticals (CPP), Oncobiologics (ONS), Spring Bank Pharmaceuticals (SBPH), Intellia Therapeutics (NTLA).

Equity conferences during the remainder of this week include: Deutsche Bank Health Care Conference on Wed-Thu, ACI Renewable & Bio-based Chemicals Summit on Wed-Thu.

PREMARKET U.S. STOCKS

Tesla (TSLA -4.20%) rose 5% in pre-market trading after it said it plans to deliver 80,000 to 90,000 new Model S and Model X vehicles this year and reach 500,000 vehicles by 2018, two years sooner than originaly planned.

McKesson (MCK -1.87%) gained over 1% in after-hours trading after it reported Q4 adjusted EPS of $ 3.17, higher than consensus of $ 3.14.

Kraft Heinz (KHC +1.65%) jumped nearly 5% in after-hours trading after it reported Q1 adjusted EPS of 73 cents, well above consensus of 61 cents.

MetLife (MET -1.90%) fell nearly 3% in after-hours trading after it reported Q1 operating EPS of $ 1.20 with a 1 cent net tax benefit, weaker than consensus of $ 1.38.

Prudential Financial (PRU -1.55%) lost 3% in after-hours trading after it reported Q1 operating EPS of $ 2.18, below consensus of $ 2.37.

Whole Foods Market (WFM -0.83%) gained nearly 2% in after-hours trading after it reported Q2 EPS of 44 cents, better than consensus of 41 cents.

TripAdvisor (TRIP -4.10%) dropped over 3% in after-hours trading after it reported Q1 adjusted EPS of 32 cents, well below consensus of 46 cents.

Weight Watchers International (WTW -1.11%) surged 12% in after-hours trading after it raised guidance on full-year EPS to 80 cents-$ 1.05 from a February estimate of 70 cents-$ 1.00.

Relypsa (RLYP -19.17%) gained nearly 3% in after-hours trading after it reported a Q1 loss of -$ 1.26, a smaller loss than consensus of -$ 1.46.

CenturyLink (CTL +1.24%) slid nearly 4% in after-hours trading after it reported Q1 adjusted EPS of 46 cents, well below consensus of 68 cents.

TASER International (TASR -0.79%) rose over 4% in after-hours trading after it reported Q1 EPS of 6 cents, higher than consensus of 4 cents.

ARRIS International PLC (ARRS -0.13%) rallied over 8% in after-hours trading after it reported Q1 adjusted EPS of 47 cents, better than consensus of 40 cents and said it sees Q2 adjusted EPS of 65 cents-70 cents, well above consensus of 56 cents.

Qorvo (QRVO -1.18%) climbed 7% in after-hours trading after it said it sees Q1 adjusted EPS of $ 1.05, higher than consensus of 96 cents.

Fitbit (FIT -0.47%) tumbled over 10% in after-hours trading after it said its sees Q2 adjusted EPS of 8 cents-11 cents, below consensus of 26 cents and below the lowest estimate of 12 cents.

EP Energy (EPE +0.23%) jumped nearly 20% in after-hours trading after it reported Q1 adjusted EPS of 19 cents, well above consensus of 1 cent.

MARKET COMMENTS

June E-mini S&Ps (ESM16 +0.28%) this morning are up +5.75 points (+0.28%). Wednesday’s closes: S&P 500 -0.59%, Dow Jones -0.56%, Nasdaq -0.68%. The S&P 500 on Wednesday tumbled to a 3-week low and closed lower on negative carryover from a sell-off in European stocks to a 3-week low after Eurozone Mar retail sales dropped -0.5% m/m, weaker than expectations of -0.1% m/m and the largest decline in 1-1/2 years. Stocks were also undercut by the +156,000 increase in the U.S. Apr ADP employment change, weaker than expectations of +195,000 and the smallest increase in 3 years. Stocks found some underlying support from the +1.1% rise in U.S. Mar factory orders (stronger than expectations of +0.6%) and the +1.2 points rise in the Apr ISM non-manufacturing index to 55.7 (stronger than expectations of +0.3 to 54).

June 10-year T-note prices (ZNM16 -0.05%) this morning are down -2 ticks. Wednesday’s closes: TYM6 +4.50, FVM6 +2.75. Jun T-notes on Wednesday rose to a 2-week high and closed higher on increased safe-haven demand for T-notes after the S&P 500 dropped to a 3-week low. T-notes were also boosted by the weaker-than-expected Apr ADP employment report of only +156,000, the smallest increase in 3 years. T-notes were undercut by the stronger-than-expected Apr ISM non-manufacturing index report and Mar factory orders report.

The dollar index (DXY00 +0.53%) this morning is up +0.456 (+0.49%). EUR/USD (^EURUSD) is down -0.0062 (-0.54%). USD/JPY (^USDJPY) is up +0.23 (+0.21%). Wednesday’s closes: Dollar Index +0.235 (+0.25%), EUR/USD -0.0009 (-0.08%), USD/JPY +0.41 (+0.38%). The dollar index on Wednesday closed higher on the stronger-than-expected U.S. Apr ISM non-manufacturing index report and Mar factory orders report and on weakness in EUR/USD after Eurozone Mar retail sales fell -0.5% m/m, the largest monthly decline in 1-1/2 years.

June WTI crude oil (CLM16 +2.74%) this morning is up +$ 1.24 a barrel (+2.83%). June gasoline (RBM16 +0.68%) is up +0.0126 (+0.85%). Wednesday’s closes: CLM6 +0.13 (+0.30%), RBM6 -0.0234 (-1.55%). Jun crude oil and gasoline on Wednesday settled mixed with Jun gasoline at a 2-week low. Crude oil prices were undercut by the +2.78 million bbl increase in EIA crude inventories (higher than expectations of +750,000), and the unexpected +536,000 bbl increase in EIA gasoline supplies (more than expectations for a -250,000 bbl decline). Crude oil found support from the -1.3% drop in U.S. crude production in the week of Apr 29 to a 1-1/2 year low of 8.28 million bpd.

GLOBAL EVENT CALENDAR05/05/2016
US0730 ETApr Challenger job cuts, Mar +31.7% y/y.
0830 ETWeekly initial unemployment claims expected +3,000 to 260,000, previous +9,000 to 257,000. Weekly continuing claims expected -2,000 to 2.128 million, previous -5,000 to 2.130 million.
0830 ETUSDA weekly Export Sales.
1150 ETSt. Louis Fed President James Bullard speaks at the Santa Barbara County Economic Summit.
1915 ETAtlanta Fed President Dennis Lockhart, Dallas Fed President Robert Kaplan, San Francisco Fed President John Williams, and St. Louis Fed President James Bullard take part in a panel discussion on International Monetary Policy and Reform Practice at a conference at Stanford University.
UK0330 ETUK Apr Halifax house prices expected -0.3% m/m and +9.6% 3-mo/year-over-year, Mar +2.6% m/m and +10.1% 3-mo/ year-over-year.
0430 ETUK Apr Markit/CIPS services PMI expected -0.2 to 53.5, Mar 53.7.
EUR0400 ETECB publishes economic bulletin.
JPN2200 ETJapan Apr Nikkei composite PMI, Mar 49.9.
n/aJapanese markets closed for Childrens Day.
U.S. STOCK CALENDAR05/05/2016
CompanyTickerTimeEvent DescriptionPeriodEstimate
Allergan plcAGN US3:30Annual General MeetingY 2016
Becton Dickinson and CoBDX USBef-mktQ2 2016 Earnings ReleaseQ2 20162.009
Church & Dwight Co IncCHD USBef-mktQ1 2016 Earnings ReleaseQ1 20160.849
Jacobs Engineering Group IncJEC USBef-mktQ2 2016 Earnings ReleaseQ2 20160.671
Merck & Co IncMRK USBef-mktQ1 2016 Earnings ReleaseQ1 20160.855
Occidental Petroleum CorpOXY USBef-mktQ1 2016 Earnings ReleaseQ1 2016-0.405
TECO Energy IncTE USBef-mktQ1 2016 Earnings ReleaseQ1 20160.27
Cablevision Systems CorpCVC USBef-mktQ1 2016 Earnings ReleaseQ1 20160.181
Regeneron Pharmaceuticals IncREGN USBef-mktQ1 2016 Earnings ReleaseQ1 20162.625
Chesapeake Energy CorpCHK USBef-mktQ1 2016 Earnings ReleaseQ1 2016-0.106
Martin Marietta Materials IncMLM USBef-mktQ1 2016 Earnings ReleaseQ1 20160.357
AmerisourceBergen CorpABC USBef-mktQ2 2016 Earnings ReleaseQ2 20161.585
Quanta Services IncPWR USBef-mktQ1 2016 Earnings ReleaseQ1 20160.264
NRG Energy IncNRG USBef-mktQ1 2016 Earnings ReleaseQ1 20160.056
Teradata CorpTDC USBef-mktQ1 2016 Earnings ReleaseQ1 20160.361
Scripps Networks Interactive IncSNI USBef-mktQ1 2016 Earnings ReleaseQ1 20161.055
Fastenal CoFAST US7:00April 2016 Sales and Revenue Release2016
Discovery Communications IncDISCA US7:00Q1 2016 Earnings ReleaseQ1 20160.423
L Brands IncLB US7:30April 2016 Sales and Revenue Call2016
Apache CorpAPA US8:00Q1 2016 Earnings ReleaseQ1 2016-0.886
Becton Dickinson and CoBDX US8:00Q2 2016 Earnings CallQ2 2016
Kellogg CoK US8:00Q1 2016 Earnings ReleaseQ1 20160.941
Merck & Co IncMRK US8:00Q1 2016 Earnings CallQ1 2016
Morgan StanleyMS US8:00Investor ConferenceY 2016
United Parcel Service IncUPS US8:00Annual General Meeting
DTE Energy CoDTE US8:00Annual General Meeting
MetLife IncMET US8:00Q1 2016 Earnings CallQ1 2016
Tesoro CorpTSO US8:30Q1 2016 Earnings CallQ1 2016
Marathon Oil CorpMRO US8:30Q1 2016 Earnings CallQ1 2016
Regeneron Pharmaceuticals IncREGN US8:30Q1 2016 Earnings CallQ1 2016
Chubb LtdCB US8:30Q1 2016 Earnings CallQ1 2016
Teradata CorpTDC US8:30Q1 2016 Earnings CallQ1 2016
Discovery Communications IncDISCA US8:30Q1 2016 Earnings CallQ1 2016
TripAdvisor IncTRIP US8:30Q1 2016 Earnings CallQ1 2016
Eversource EnergyES US9:00Q1 2016 Earnings CallQ1 2016
Chesapeake Energy CorpCHK US9:00Q1 2016 Earnings CallQ1 2016
Quanta Services IncPWR US9:00Q1 2016 Earnings CallQ1 2016
Reynolds American IncRAI US9:00Annual General Meeting
Nasdaq IncNDAQ US9:00Annual General MeetingY 2016
NRG Energy IncNRG US9:00Q1 2016 Earnings CallQ1 2016
CF Industries Holdings IncCF US9:00Q1 2016 Earnings CallQ1 2016
American Water Works Co IncAWK US9:00Q1 2016 Earnings CallQ1 2016
Kellogg CoK US9:30Q1 2016 Earnings CallQ1 2016
Concho Resources IncCXO US9:30Q1 2016 Earnings CallQ1 2016
Church & Dwight Co IncCHD US10:00Q1 2016 Earnings CallQ1 2016
Duke Energy CorpDUK US10:00Annual General MeetingY 2016
TEGNA IncTGNA US10:00Annual General MeetingY 2016
Lincoln National CorpLNC US10:00Q1 2016 Earnings CallQ1 2016
Williams Cos Inc/TheWMB US10:00Q1 2016 Earnings CallQ1 2016
Allstate Corp/TheALL US10:00Q1 2016 Earnings CallQ1 2016
Transocean LtdRIG US10:00Q1 2016 Earnings CallQ1 2016
Capital One Financial CorpCOF US10:00Annual General MeetingY 2016
Verizon Communications IncVZ US10:30Annual General MeetingY 2016
Archer-Daniels-Midland CoADM US11:00Annual General MeetingY 2016
Ecolab IncECL US11:00Annual General MeetingY 2016
Federal Realty Investment TrustFRT US11:00Q1 2016 Earnings CallQ1 2016
Jacobs Engineering Group IncJEC US11:00Q2 2016 Earnings CallQ2 2016
Occidental Petroleum CorpOXY US11:00Q1 2016 Earnings CallQ1 2016
WEC Energy Group IncWEC US11:00Annual General Meeting
Prudential Financial IncPRU US11:00Q1 2016 Earnings CallQ1 2016
AmerisourceBergen CorpABC US11:00Q2 2016 Earnings CallQ2 2016
Cimarex Energy CoXEC US11:00Q1 2016 Earnings CallQ1 2016
Scripps Networks Interactive IncSNI US11:00Q1 2016 Earnings CallQ1 2016
Murphy Oil CorpMUR US13:00Q1 2016 Earnings CallQ1 2016
Apache CorpAPA US14:00Q1 2016 Earnings CallQ1 2016
Martin Marietta Materials IncMLM US14:00Q1 2016 Earnings CallQ1 2016
Kansas City SouthernKSU US16:00Annual General Meeting
Activision Blizzard IncATVI US16:30Q1 2016 Earnings CallQ1 2016
Cerner CorpCERN US16:30Q1 2016 Earnings CallQ1 2016
Endo International PLCENDP US16:30Q1 2016 Earnings CallQ1 2016
Wynn Resorts LtdWYNN US16:30Q1 2016 Earnings CallQ1 2016
PerkinElmer IncPKI US17:00Q1 2016 Earnings CallQ1 2016
Motorola Solutions IncMSI US17:00Q1 2016 Earnings CallQ1 2016
Fiserv IncFISV US17:00Q1 2016 Earnings CallQ1 2016
News CorpNWSA US17:00Q3 2016 Earnings CallQ3 2016
Consolidated Edison IncED USAft-mktQ1 2016 Earnings ReleaseQ1 20161.206
PerkinElmer IncPKI USAft-mktQ1 2016 Earnings ReleaseQ1 20160.507
EOG Resources IncEOG USAft-mktQ1 2016 Earnings ReleaseQ1 2016-0.843
Motorola Solutions IncMSI USAft-mktQ1 2016 Earnings ReleaseQ1 20160.405
Activision Blizzard IncATVI USAft-mktQ1 2016 Earnings ReleaseQ1 20160.123
Cerner CorpCERN USAft-mktQ1 2016 Earnings ReleaseQ1 20160.532
Fiserv IncFISV USAft-mktQ1 2016 Earnings ReleaseQ1 20161.019
Mohawk Industries IncMHK USAft-mktQ1 2016 Earnings ReleaseQ1 20162.322
Endo International PLCENDP USAft-mktQ1 2016 Earnings ReleaseQ1 20161.038
Fluor CorpFLR USAft-mktQ1 2016 Earnings ReleaseQ1 20160.846
Wynn Resorts LtdWYNN USAft-mktQ1 2016 Earnings ReleaseQ1 20160.768
News CorpNWSA USAft-mktQ3 2016 Earnings ReleaseQ3 20160.042
Fluor CorpFLR US17:30Q1 2016 Earnings CallQ1 2016
Church & Dwight Co IncCHD USAnnual General Meeting
Dover CorpDOV USAnnual General Meeting
Equifax IncEFX USAnnual General Meeting
L Brands IncLB USApril 2016 Sales and Revenue Release2016
Welltower IncHCN USAnnual General MeetingY 2016
Eastman Chemical CoEMN USAnnual General MeetingY 2016
Fluor CorpFLR USAnnual General Meeting
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